Separate the egg whites from the egg yolks when they are cold. Bring to room temperature.
Preheat the oven to 350 F. In a large mixing bowl, add the egg yolks and 1/2 cup sugar and mix to combine. Beat in the room temperature 1/2 cup butter. Beat in the 1/2 teaspoon vanilla extract and 1/4 cup whole milk.
Beat in the dry ingredients (1 1/2 cups flour; 1 teaspoon baking powder; 1/4 teaspoon salt; 1/2 teaspoon nutmeg) in two batches to prevent the flour from flying around.
In the mixing bowl of a stand mixer with the whisk attachment, add the egg whites and 1/2 teaspoon cream of tartar. Beat egg whites until they have reached soft peaks and the whisk leaves track marks in them. They will not be able to hold their shape.
With the mixer running, add the 3/4 cup of sugar in three batches. Let it run for about 30 seconds in between each batch till all the sugar is added, then continue to let the mixer run. The egg whites will begin to build volume and stiffen, holding their shape. They are ready when they form stiff peaks and you can hold the bowl upside down without them falling out.
Gently fold the whipped egg whites into the batter in two batches. Mix until just incorporated.
Pour the batter into a 9x13 casserole dish and bake for 30 minutes. A toothpick inserted in the middle should come out clean when it is done. Let the cake rest for ten minutes.
Poke holes in the cake all over with a fork. This is what helps the milk soak into the cake.
Mix the 1 1/2 cups whole milk, 1 can condensed milk, and 1 can evaporated in a large mixing bowl. Pour this all over the cake. Set aside in the fridge to let the milk soak into the cake. This should take 30-60 minutes.
Let the cake cool down fully before adding the homemade whipped cream topping.